HMRC is conducting a review of its Capital Gains Manual to distinguish between sections that provide official interpretation of capital gains tax rules and those that do not. Content that merely explains procedures rather than interpreting legislation will be removed from the manual, with relevant material being relocated and cross-referenced where appropriate. This restructuring aims to provide clearer guidance on how HMRC interprets capital gains tax legislation where multiple reasonable interpretations exist.
Source: HMRC (GOV.UK) – Read the original